A strategic planning consultant helps a company's top executives plan their business. Using their expertise, they help determine the most efficient method to use the company's resources to boost sales and profits.
Strategic business planning consultants can assist tiny or early-stage enterprises to produce business plans or other documents that might attract investors.
With the help of strategic planning consulting, a budgeting system can also be implemented with their help. A specific endeavour, such as a merger or acquisition, may need their aid.
How do I choose a strategic planning consultant?
If you've decided it's time to work with a strategic planning consultant, here is what you need to check before choosing them.
What kind of experience do they have?
How do they go about doing things?
What kind of reputation do they have?
Is their way of accomplishing things compatible with yours?
What is the role of a strategy consultant?
Strategic business planning consultants examine a company's business operations, objectives and provide advice on how to enhance its direction.
As a result of strategic consulting, businesses have been able to better define their target markets, increase revenue, make key choices and spot trends within those markets.
In addition to assisting with the resolution of present problems and the implementation of new solutions, strategic business planning consultants often undertake competitive analyses to aid in the formulation of appropriate objectives and goals.
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How much should a strategic planner charge?
Many factors go into how much a strategic planner should charge. Factors such as the size of the company, industry, and current level of strategy development are all important.
A strategic planner's time is equally valuable - they shouldn't put in countless hours without seeing any results or be able to charge less because they do not meet specific requirements just because they say so.
How much should strategic planning cost?
Many people use the word strategic management consultant, but it doesn't mean the same thing every time. In other words, we're talking about something quite different here.
In the consulting industry, strategic planning consulting services charge for their time depending on the degree of experience and skill they have. You'll receive much less time for your money if your budget is $7,500 instead of $75,000.
Strategic planning costs
The cost for a strategic planner to consult with a company is significantly different than the cost for an advertising agency to create an advertisement. Strategy consulting is expensive and this entails the need to have extensive experience in different industries, complex customer relationships, etc.
Few companies even have the budget that they can afford these services without cutting corners elsewhere on their marketing campaigns. The fee for a strategic planning consultant will depend on the company’s budget and needs.
Some companies might hire a strategic planner for one day or less than a day, in which case they might charge from $1,000 - $2,000 or more. Others might hire a strategic planner for six months or more, in which case they might charge from $5,000 - $10,000 or more.
What skills make a good consultant?
Both soft skills and industrial or functional competence are necessary for a successful strategic planning consultant service.
Consultants are hired by companies because they believe the consultant has greater expertise or experience than their internal teams or people.
Because they cannot tackle the difficulties they are currently experiencing. Let’s check it out.
Experience that can be shown to have depth
A potential customer should be able to tell right away how experienced a consultant is even before rendering their strategic planning services by the depth of their initial chat with them.
In an ideal world, the consultant's credibility would emerge on its own, without the need for the consultant to explain their achievements, provide their résumé, or mention previous customers. Strategy meetings with Open Eye reveal our breadth of knowledge.
Putting the customer first
Since the client is the star of the show, quality consultants don't attempt to 'steal the limelight from the client by making themselves seem better than they are.
A quality consultant is not a one-man band. As a result, they are natural collaborators who recognize that partnering with their clients and putting their success at stake is the only way to develop a long-term book of business.
Solving Analytical Issues
Analysing a lot of data, asking relevant, impact, open-ended questions, and delivering real outcomes are the skills of a competent consultant. While strategy and tactics are intertwined, the best consultants can give practical answers.
They can make links between the big picture and the here and now because of their excellent communication abilities, and as a result, they provide an action plan that is not only relevant today but also long-term.
Trustworthy in both words and deed
As long as the client's goals are met or exceeded, it's a good idea for a consultant to under-promise and over-deliver.
They approach every interaction with a "whatever it takes" mentality and are laser-focused on meeting expectations promptly.
If a project has difficulties, they will share their concerns as soon as possible.
Professional
Consultants need to achieve a delicate balance between professionalism and personal touch. People skills are just as crucial in consulting as technical or industry expertise.
To be a trusted business counsellor, they must be able to build a natural connection with a customer while maintaining professionalism.
What does a strategic planning facilitator do?
Strategic planning can be a challenge for many businesses because of the difficulty in balancing the differing viewpoints, personalities, and priorities that might arise.
If you are looking for a strategic planning facilitator that is prepared to give their time or charge you a fee, you need to know what to anticipate from them.
What to Expect from a Facilitator is outlined in the following list:
A comprehensive breakdown of their WORK PROCESS
During the pre-planning, planning, and product delivery stages, how do they handle strategic planning?
A confirmation of strategic planning METHOD
Do they use a tried-and-true approach or do they follow a technique that has been proven effective with previous clients?
The most important dates
Is the time allocated for both pre-planning activities and formal strategic planning processes well communicated?
The price of providing a service
To avoid any unpleasant surprises, can they give you a formal contract outlining their "hourly fees" in advance?
Dimensions of the project
Can they explain the scope of the project? Make a note of how many years your strategy will span, as well as the degree of detail that will be connected with each of those years.
Strategic business planning template
The purpose of a strategic business planning template is to provide an overview of the current company status and how it can be improved.
This includes factors like financial, product, market and business strategy. Want to know what's in store for your business and how to think strategically?
Business Model Canvas Workbook
The Business Model Canvas Workbook, in particular, helps companies plan their product to provide value at scale.
It's a way of helping companies think about the different layers of their business, what they want to achieve with their products and why customers should care. It's not enough just to do the basics anymore; you need strategic planning.
The workbook provides tools and templates that help you create a plan for your company’s future as well as guide you through the process of strategic planning from start to finish.
Curious to try it? Download the strategic business planning template for free.
How do you know if it's too early to execute a plan?
The key to determining whether a plan is too early is whether or not the resources that would be required for the plan are available.
If they are, then it may not be too early. Then we suggest having a strategic planning consultation with our expert to see what is possible.
This article was written by 7needs, check out the collection of our business strategy blog posts.
Plan & Strategise
We may be living in the age of automation, but we still need people at the heart of companies to plan and execute strategy. Companies are shifting from product-led growth to customer-centric strategies that rely on market insights and an understanding of how to optimize for the future. Understanding your customers, competitors and the market is key to success.
7needs can help you with forward-thinking, strategic planning and strategy implementation to execute growth that is scalable and sustainable. Schedule a call today for a strategy consultation to learn how we can help you reach your goals.
